No news on scrapping Rs 2000 note, but Rs 200 notes will be out soon: MoS Gangwar

There is no news that the Rs 2,000 note will be scrapped, said Minister of State for Finance Santosh Kumar Gangwar in an interview with IANS.

Gangwar’s comments follow various reports alleging that the government is working towards removing the new Rs 2,000 bill from circulation.

"The reduction in printing of the new Rs 2,000 notes is a separate issue. But that needs to be confirmed by the Reserve Bank of India (RBI). RBI will give information on Rs 2,000 notes," he added.

Gangwar also added that Rs 200 notes will become available soon.

An Economic Times news report says industry experts believe that the government is planning to limit the circulation of Rs 2,000, but won’t be rendering it illegal.

On Wednesday, the opposition confronted FM Arun Jaitley regarding the government’s reported plan to scrap the recently introduced Rs 2,000 currency note and introduce a Rs 1,000 coin in its place. However, no response was forthcoming from the FM.